Dream

DeFi

USDe

Ethena

Developed by the same team as the synthetic stablecoin USDe and the eponymous protocol, Ethena Labs has found a way to bring together three areas of the cryptocurrency industry simultaneously: CiFi, DeFi, and TradFi 
The USDe team at Ethena claims their “stable” coin will do the same as USDT and MakerDAO. The Dream of Ethena: Consolidating DeFi, CeFi, and TradFi All the traditional criteria of decentralized finance (DeFi) were satisfied by the USDe stablecoin. This asset’s success can be attributed, in large part, to the fact that its USDe reserves are double the total rates utilized in the so-called perpetual contracts on DEX. 
Developers of Ethena pointed out in their updated roadmap that stable and beneficial financial flows can be created using USDe as collateral. Here, DEX and CEX both stand to gain. 
Not only that, but the protocol team made it clear that their actions won’t break the exchanges as a whole. This was crucial in helping Ethena raise over $1.25 billion in USDe. 
Ethena will adapt to the changing needs of the DeFi market just like other stablecoin issuers. Rising real yields are what the futures markets are built on. “These interest rate markets will be built on USDe,” the development plan states. Tell me more about the cost of ENA. With the release of the roadmap, ENA, the Ethena ecosystem’s native token, jumped nearly 6% in price to $0.92. There was a 2% adjustment to the asset’s value as of this writing. The current price of the token, as reported by CoinGecko, is $0.82. 
Data visualization of the ENA price. The information was sourced from CoinGecko. The ENA token didn’t debut until early April of this year. The asset’s market value surpassed $1.1 billion in little over a month. The estimated daily volume of token trades is $231 million. 
Bybit, a well-known cryptocurrency exchange, had previously announced that its USDe stablecoin would be used as collateral for perpetual futures trading. Users can now earn extra income because of the integration. 
According to CoinGecko, the market valuation of Ethena’s stablecoin has surpassed $2.3 billion. Dollardecoin is the fifth most valuable stablecoin according to market cap.

A new roadmap was presented by the Ethena developers.

Blocksays

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